PETALING JAYA: The current toll rates for all four highways managed by Amanat Lebuhraya Rakyat (ALR) will be maintained until the end of each of their concession periods, says its group chief executive officer Sazally Saidi.
They are the Sprint Expressway (Sprint), Stormwater Management and Road Tunnel Expressway (Smart), Damansara-Puchong Highway (Litrak) and Shah Alam Expressway (Kesas).
Announcing this during a "buka puasa" event with children from the Darul Sakinah Angkasa Care Centre (DSACC) at Glam Hall Damansara in Petaling Jaya recently, Sazally said this move would generate between RM800mil and RM1bil in direct savings for motorists and the government in terms of toll compensations.
Explaining the mechanics, the group’s chief transformation and corporate officer Low Jo-Lyn said the current toll rates for the four highways were expected to be maintained for the next 10 years at least.
"ALR’s sukuk which was issued in 2022 has a finite maturity period of 15 years but the more traffic there is on our highways, the shorter the concessions will be.
"As such, it is forecasted that ALR should be able to repay the sukuk by 2033 or 2034," said Low.
Early settlement of the sukuk would shorten the toll concessions to the government. Explaining that ALR was a private, not for profit entity established to hasten the return of the four highways to the Malaysian government, the company structure was expected to generate an estimate of RM500mil in direct savings for motorists per annum from the group's highways.
